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Bicycling, fitness center, rooftop bar coming to Clearfork's Trailhead

An 11,000-square-foot bicycling and fitness center is headed for the Trailhead at Clearfork on the Trinity River in west Fort Worth, Cassco Development said Wednesday.

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Residential land at Chisholm Trail Ranch purchased

Stratford Land, Legacy Capital Co. and the Walton Group of Cos. have snapped up 268 acres of residential land at Chisholm Trail Ranch in Fort Worth.

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Fort Worth to consider adopting 15-year Cavile Place redevelopment plan

The 300-unit Cavile Place housing project in Southeast Fort Worth would be razed and replaced in phases, with a significant number of the units redistributed into the neighborhood.

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Fort Worth payment processor acquired by pension plan group

Fort Worth-based First American Payment Systems has been acquired by an investor group led by the Ontario Teachers’ Pension Plan (Teachers’), with participation of members of the First American management team.

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Texas adds 19,100 nonfarm jobs in June; Fort Worth-Arlington jobless rate 5.3 percent

Seven of Texas' 11 major industry segments added jobs in June, the Texas Workforce Commission reported.

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Mansfield apartments acquired

 

Dolce Living at Mansfield has been acquired by Advenir, a provider of multi-family real estate investment and management services, Now renamed Advenir@Mansfield, the complex is a 334-unit Class A apartment community located in Mansfield. No purchase price was reported. 


“Advenir@Mansfield is a top-of-the-market community that offers an extensive list of luxury amenities and highly desirable unit features similar to what you find at premier resorts including a state-of-the art fitness center, internet café and a resort-style swimming pool,” said Todd Linden, chief acquisition officer of Advenir. “The acquisition of Advenir@Mansfield at a favorable basis combined with securing long-term fixed rate 4.5% financing from Freddie Mac, will provide Advenir investors with a sound investment vehicle that has strong in-place cash on cash returns with minimal downside risk.”


Advenir plans minor capital improvements that will increase rental upside. The company will upgrade to wood flooring throughout the living space in specific unit types and add fenced backyards to further appeal to residents with pets.
Advenir@Mansfield is located directly along State Highway 360 and centrally within Mansfield. The complex boasts 1-, 2- and 3-bedroom luxury units ranging from 750 square feet to 1,400 square feet and includes custom cabinetry, stainless steel appliances and island- style kitchens with granite countertops.


Advenir represented itself in the property acquisition and financing was secured by Braden Harmon of Berkeley Point Capital. The Institutional Property Advisors Texas team led by Will Balthrope and Drew Kile represented the seller.
Founded in 1996, Advenir Inc. is a real estate investment company headquartered in Aventura, Fla.
 

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